They were left unable to race at their Brandon Stadium home and it was hoped that a short-term agreement to use Beaumont Park in Leicester would pacify speedway bosses.

But the BSPA said it had significant concerns.

They said in a statement: “With deep regret the British Speedway Promoters’ Association announce Coventry Bees will not be competing in the 2017 SGB Premiership and their licence has been put on ice.

“Due to well documented issues with their former Brandon Stadium home, the Bees only have an agreement in place to run a handful of meetings at Leicester.

SPEEDWAY Coventry 2...Leigh Lanham (left) of Arena Essex beats Joe Screen of Eastbourne Eagles into 2nd place, during the second race of the Championship of Great Britain 2002 Grand Final at Coventry International Raceway Saturday 12th October 2002. PA Photo: Nick Potts...S

“The club, therefore, are not in a position to satisfy the Association that they can fulfil a full season of league racing with no guarantee of returning to Brandon.

“In addition there have been developments in the past 10-days where financial support for the Coventry promotion has changed, again meaning the Association are not satisfied they can fulfil a full season."

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The eight-match deal in Leicester was intended as a stop-gap while negotiations continued to secure a return to Brandon.

Danny King leads Robert Lambert

However, no agreement had been made to run the whole season at Beaumont Park and the BSPA voiced concerns over the viability of the club, on the basis it was unable to replace key sponsorship deals and knew it would see smaller crowds attending.

The news will come as a devastating blow to supporters and casts a shadow over the Bees’ future.

Bees’ owner Mick Horton had secured a head lease with new stadium owners Brandon Estates to race on for up to three more years but also needed a deal with former landlords Coventry Racing Club, who were to continue running stock cars there and who laid claim to the assets.

According to the Bees that deal came too late – and remained unsigned – and Mr Horton handed back the lease when he realised he would be unable to operate at the venue without undertaking repair work beyond his means, although the figures quoted continue to be contested.

Previous owner Avtar Sandhu had stated he would return the assets in time for the start of the season, but was unable to enter the stadium in January as Brandon Estates had reported their removal to the police.

Pictured the damaged state of Brandon Stadium near Coventry the home of Coventry Bees Speedway, with broken fixtures and fittings - including floodlights, seats, track shale and fence posts, Brandon Stadium's first speedway meeting took place in September 1928 and has been a popular stop for many high-profile speedway events in its lifetime.

Uncertainty remains over the future of Brandon Stadium.

The seven signed Coventry riders – five of them British and including the reigning national champion Danny King - are now likely to be without a Premiership team place at the start of the season.

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Mr Horton addressed a supporters’ club meeting on Thursday – before the most recent developments – where supporters are understood to have voiced their frustrations clearly.

During the meeting Mr Horton stated he would be prepared to sell the club to “anybody who had the right intentions” if it was felt that was the best route forward.

Pictured the damaged state of Brandon Stadium near Coventry the home of Coventry Bees Speedway, with broken fixtures and fittings - including floodlights, seats, track shale and fence posts, Brandon Stadium's first speedway meeting took place in September 1928 and has been a popular stop for many high-profile speedway events in its lifetime.

In closing its statement the BSPA said: “We feel extremely sad for the Bees’ riders, fans and officials but we believe this decision has been made in the best interests of the sport.

“We sincerely hope circumstances can improve for Coventry during the course of this year which will enable them to return to the track in the 2018 season.”